Sh*t Happens

I am not a professional investor, nor was I educated in it.  However, I do understand the basics of life and bad things happens.  During these times, we need to be cognitively healthy to cope with them and not let them take over our lives.  I know more than one friend that was and still is, devastated by the dip that the cryptomarket took.

First, remember, the market goes up and down.  To the moon is a phrase in the cryptoindustry that means maximum profit forever.  This is not really plausible.  If the market kept going up, then what would you do?  You would have made a lot and enjoy telling everyone about it.  However, then everything would be so high that investing wouldn’t be practical.

Next, if you hodle, you don’t lose anything until you sell.  If you hold long enough, it might come back up and you escape a loss.  In the meantime, look for opportunities to invest at the new price.  Opportunities are out there, and it just takes effort.

If you are not able to hodle for a while, you should have a bottom-line price for selling.  This would be the maximum loss that you could suffer before selling and waiting for the market to level out before investing.

Finally, when it comes to investing, don’t gamble.  This is a basic rule that I learned from my grandfather.  If you put everything in, that’s gambling and you might lose everything.  A good rule that I was taught was never to invest more than 10% of your income. 

Good luck and let me know how you're handling the market.

If you missed my last article about how China affected the market, click below:

https://www.publish0x.com/bitcoin-haters-keep-on-hating/the-china-bitcoin-equation-xmkqjke